Goldman Sachs Keeps ‘Neutral’ Rating on Palantir
Goldman Sachs analyst Gabriela Borges raised the price target on Palantir to $188 while maintaining a Neutral rating.
“Palantir is indicated down 4% (initially +5%) after hours post reporting 3Q revenue 8% above the Street and EBIT margin ~500ps above.
4Q revenue guidance is 12% above the Street and EBIT margin is ~300bps above.
The more muted stock reaction after hours is in the context of high expectations (recall last quarter, Palantir beat revenue by 7%) and significant outperformance (+175% YTD).
We continue to view Palantir as one of only a handful of software companies that is clearly benefiting from AI deployments today.
As enterprises expand from experimentation with use cases to enterprise-wide AIP deployments, Palantir continues to capture a meaningful share of wallet evidenced in increased deal sizes and revenue per customer.
While we continue to expect Palantir to capture meaningful share of customer AIP deployments, our positive view is balanced by longer term ecosystem risks (of the industry moving from peak custom deployments to off the shelf adoption) and premium valuation: Palantir trades at ~80x EV/Sales (vs.
20%+ growth/margin peers at ~20x) and >150 EV/FCF (vs. peers at 55x) on 2026. We maintain a Neutral rating on the stock and raise our PT to $188.”
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